Bakkt’s divestiture of its loyalty unit marks a strategic shift towards cryptocurrency infrastructure, with plans for a public offering to support growth.
Bakkt has sold its loyalty business to Project Labrador Holdco for $11 million, indicating a shift towards cryptocurrency infrastructure. The transaction is set to close in Q3 2025 and is accompanied by preliminary estimates of second-quarter crypto revenues between $568 million and $569 million. Bakkt also plans to launch a public offering of Class A shares to raise funds for Bitcoin purchases and operational capital.